The cross elasticity of demand tells you how your customers will react to a change in your product's price. It is a way to mathematically measure the amount you can increase an item's price before ...

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In economics, the cross price elasticity of demand measures the responsiveness of the quantity demanded of one good (X), to a change in the price of another good (Y).

Demand elasticity is a phenomenon where demand for a specific good or service changes depending on factors such as how it is priced, whether alternatives are available or local income trends.